Deutsche Morgan Grenfell
To Pay Some Bonuses in Stock

By

Patrick McGeehan Staff Reporter of The Wall Street Journal

Updated Feb. 20, 1998 2:15 a.m. ET

NEW YORK -- Deutsche Morgan Grenfell, the investment-banking arm of Deutsche Bank , is preparing to surprise many of its U.S. employees by paying part of their 1997 bonuses in the German bank's stock, according to people familiar with the matter.

The move is expected to spark unrest among the employees, who have been bracing for news of how they will be affected by a broad restructuring announced last month by Deutsche Bank. The parent company said it plans to cut as many as 9,000 jobs as it integrates its...